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March 6, 2021
Question

Regarding the deduction up to $300 for cash charitable contributions, I miscalculated. How do I go back and adjust?

  • March 6, 2021
  • 1 reply
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I miscalculated by $150 too much.  I tried to clear and start over but it said I had registered my tax return even though I have not finished filing.

1 reply

KathrynG3
March 6, 2021

If you have filed, then you may need to amend(change) the return. To Amend(change) your 2020 TurboTax Online return, follow these steps:

  • Open the return--you will be at Tax Home.
  • Scroll down to Your tax returns & documents and Show.
  • Select 2020, and Amend(change) return.

Once the amend process has been started, then, navigate to the Stimulus Payments section by following the steps described below to report the above-the-line deduction. The extra cash donation is allowable up to $300 for all taxpayers except married filing separate, who would each have a maximum of $150.

 

If you have not filed, to return to this area of your return, follow these steps:

  • First, enter in the charitable donation amount as you normally would.
    • From the left menu, select Federal.
    • Select the second tab from the left across the top, Deductions & Credits.
    • Scroll down to Charitable Donations.
    • Enter your details.
  • When finished entering all donations, select Done with Charitable Donations and Continue.
  • Scroll to the end of Deductions & Credits and select Done with Deductions.
    • You may need to respond to any other additional questions. You will eventually see: The Standard Deduction is Right for You! 
    • Click Continue.
    • Now, you will see Charitable Cash Contributions under Cares Act where you will see any qualified contribution amount already entered from your earlier posts. Select Continue.
      • If you have entered something else in this field, delete it so that TurboTax will calculate it automatically.

For more information, see IRS Charitable Contributions Deductions.